The name of the term used to describe issues that are important enough to merit attention from those responsible for oversight over financial reporting is commonly called:
A) Significant deficiency
B) Recklessness
C) Material weakness
D) Negligence

Question

Quizplus · Accepted Answer

A significant deficiency is a term used in financial reporting to describe a control deficiency or combination of deficiencies that is important enough to merit attention by those responsible for oversight of the company's financial reporting.

The Name of the Term Used to Describe Issues That